In January 2013 Halifax decided to withdraw from the self-build mortgage market due to ‘lack of demand’. Is this indicative of a retracting mortgage market?

From my perspective the answer is no. If anything, I get the impression that lenders are finally willing to lend, and in some cases they appear positively eager!

Mortgage rates have edged lower and lower and this includes the self build mortgage market. There are plenty of lenders able to consider self-build cases however the criteria varies so get good advice.

And the outlook for interest rates? Many believe the first interest rate hike is still years away, and the lenders appears to agree with this as they are offering historically low longer term fixed rates.

This all adds to the potential financial benefits of building your own home. Good luck with the plot hunting!

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